Tidal has laid off about 10% of its staff as part of wider downsizing efforts at its parent company Block.
Confirming the redundancies, a spokesperson for the streaming service said “we do not take these decisions lightly and we are sincerely grateful for the contributions of our impacted teammates".
The cutbacks at Tidal follow Spotify's announcement on Monday that it is instigating a dramatic round of downsizing that will impact 17% of its global workforce, so about 1500 people. According to Bloomberg, the Tidal redundancies will affect about 10% of its employees, although it has a much smaller headcount to start with, so that's about 40 people.
Block, the company headed up by Twitter founder Jack Dorsey, acquired a majority stake in Tidal in 2021. Dorsey told Block's investors last month that the company would make redundancies across the group in a bid to bring the workforce down to no more than 12,000 people. As of the end of the third quarter of this year, the Block group at large had over 13,000 employees.